Tag Archives: automotive blog

Honda Post Record Operating Profit of $7B in FY 24

Posted on 10 May 2024 by Ken Zino

“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading →

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Toyota Motor Posts Record FY24 Net Income of $39.1B

Posted on 10 May 2024 by Ken Zino

“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading →

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Nissan Motor Posts FY Net Profit of $2.7 billion

Posted on 10 May 2024 by Ken Zino

Global sales remained at 3.44 million units, which were squeezed by intensified s competition. Nissan’s consolidated net revenue was ¥ 12.686 trillion. The operating profit of ¥568.7 billion translates to an operating margin of 4.5%. “This was due to logistics, other risks such as the Noto Earthquake and various cost relief made to suppliers such as inflation, and other factors,” Nissan said. Continue reading →

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Hyundai Capital America Fined for Civil Rights Violations

Posted on 9 May 2024 by Ken Zino

“Members of our Armed Forces should not have to worry about having their cars repossessed while they are in military service,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division. Continue reading →

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BMW Group – Good Q1 Earnings on Slight Sales Increase

Posted on 8 May 2024 by Ken Zino

The BMW Group said today in Munich that during Q1 of 2024 it delivered 594,533 automobiles. This means, the company posted a tiny increase of 1.1% compared to the previous year. Throughout the three-month period, the major automotive markets largely showed an upward trend based on pent up demand and increased sales in the mid-price volume segment. Continue reading →

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Greenhouse Gases – EPA Final Rule for Oil and Gas Sector

Posted on 6 May 2024 by Ken Zino

“As we implement the historic climate programs under President Biden’s Inflation Reduction Act, EPA is applying the latest tools, cutting edge technology, and expertise to track and measure methane emissions from the oil and gas industry,” said EPA Administrator Michael S. Regan. “Together, a combination of strong standards, good monitoring and reporting, and historic investments to cut methane pollution will ensure the U.S. leads in the global transition to a clean energy economy,” Regan said. Continue reading →

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Annals of Marketing – Audi Electric Mountain Bike

Posted on 6 May 2024 by Ken Zino

Audi of America said this morning that it will increase its range of e-mobility products with the launch of a limited-edition enduro-style electric pedal assist mountain bike – dubbed eMTB – powered by Fantic. It becomes available through Audi Genuine Accessories by the summer of 2024. The Audi eMTB has livery said to be inspired by the design of Audi’s electrified Dakar Rally-winning RS Q e-tron race car. Audi eMTB at ~$9795 comes from a deal with Italian motorcycle and e-bike manufacturer Fantic based upon its XEF 1.9 Factory enduro e-bike. Continue reading →

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Ford Maverick Pickups Recalled for Tail Light Failures

Posted on 6 May 2024 by Ken Zino

Ford Motor Company is recalling more than 243,000 Maverick vehicles. The Body Control Module (BCM) on 2022-2024 models may deactivate one or both rear tail-lights without warning. The problem appears to simple math error during the design phase of product development. The rear lamps use two position bulbs on a single circuit. However, the BCM current threshold was calibrated to the current draw for one bulb. This is a variation and expansion of a previous rear light recall. Continue reading →

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The 2025 Genesis SUV – $57,700 to $79,300

Posted on 3 May 2024 by Ken Zino

“The 2025 GV80 brings a new level of elevated cabin experience to the Genesis SUV lineup, making all occupants feel like honored guests,” said Claudia Marquez, chief operating officer of Genesis Motor North America. “Its new 27-inch widescreen display and array of new interior colors, materials, and finishes introduce an even greater sense of elegance to GV80.” Continue reading →

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The April 2024 U.S. Jobs Report –  is Stable Good?

Posted on 3 May 2024 by Ken Zino

The U.S. labor market added 175,000 jobs in April, the White House said today via its Council of Economic Advisors. More than  60% of private-sector industries added jobs. The unemployment rate ticked up slightly to 3.9% – it went from 3.83% to 3.86% – and the labor force participation rate held steady at 62.7%. AutoInformed sees nothing in the report that is practically worrisome to the auto industry. What will be telling is if the companies can adjust supply to demand without incurring losses. Continue reading →

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April 2024 US Vehicle Sales Drop Slightly

Posted on 2 May 2024 by Ken Zino

“Calendar effects meant that it was always going to be challenging to match last year’s sales in April. However, with replenished inventory levels helping the market to recover a year ago, the industry is now facing a higher bar in order to keep growing,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading →

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Mercedes-Benz Q1 2024 Profit Drops 25% as Sales Slump

Posted on 1 May 2024 by Ken Zino

Mercedes-Benz Group AG (MBG.DE) has reported Group Earnings Before Interest and Taxes (EBIT) of €3.9 billion (Q1 2023: €5.5 billion) a surprising drop of -25% but in line with struggles at European-based Volkswagen Group and Stellantis. Continue reading →

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Penske Automotive Group 2024 Q1 Earnings Drop

Posted on 1 May 2024 by Ken Zino

“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading →

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Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?

Posted on 30 April 2024 by Ken Zino

Stellantis reiterated a minimum commitment of double-digit Adjusted operating income (AOI) margin in 2024, as well as positive Industrial free cash flow, despite macroeconomic uncertainties. Stellantis claimed that it is on track to deliver total capital returns in 2024 more than €7.7 billion, for an 11% yield as a percentage of Stellantis market capitalization on 1 January 2024. It is likely that its value will go down in the short term. The company, in AutoInformed’s view is in a transition that requires the balancing of market share, product cost, revenue and development of new offerings. It is not alone among automakers. Continue reading →

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NHTSA Makes Automatic Emergency Braking Mandatory

Posted on 30 April 2024 by Ken Zino

“The new vehicle safety standards we finalized today will save hundreds of lives and prevent tens of thousands of injuries every year,” said U.S. Transportation Secretary Pete Buttigieg. “The Bipartisan Infrastructure Law is not only making historic investments in transportation, but it’s also ushering in a new era of safer travel by ensuring new cars and light trucks are equipped with automatic emergency braking, making our roads safer for drivers and pedestrians alike.” Continue reading →

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